Industry

UltraTech Q3 profit rises 8% to ₹1,708 cr.

UltraTech Cement Ltd. reported consolidated net profit rose 8% year-on-year (YoY) to ₹1,708 crore for the third quarter ended December 2021.

The profit includes a one-time gain of ₹535 crore in tax for earlier years, the company said in a filing.

Consolidated net sales grew to ₹12,710 crore from ₹12,144 crore.

During the quarter, the company repaid loans amounting to ₹3,459 crore. The repayments were funded through internal accruals and have reduced the company’s exposure to floating interest rate.

The board at its meeting held on Monday, approved capital expenditure of ₹965 crore towards modernisation and expansion of capacity at Birla White from the current 6.5 LTPA to 12.53 LTPA, in a phased manner.

“The incremental capacity will be operational in a phased manner. The capacity expansion will help Birla White strengthen its presence in the growing white cement market, reducing its dependence on high-cost imports,” the company said.


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Printable version | May 25, 2022 5:06:29 pm | https://www.thehindu.com/business/Industry/ultratech-q3-profit-rises-8-to-1708-cr/article38283904.ece